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Allspring Global Investments Holdings LLC Buys 6,223 Shares of Safety Insurance Group, Inc. (NASDAQ:SAFT)

Safety Insurance Group logo with Finance background

Allspring Global Investments Holdings LLC lifted its position in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 52.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,137 shares of the insurance provider's stock after purchasing an additional 6,223 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.12% of Safety Insurance Group worth $1,431,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in Safety Insurance Group by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 239,565 shares of the insurance provider's stock valued at $19,740,000 after buying an additional 6,542 shares in the last quarter. Bank of New York Mellon Corp raised its position in Safety Insurance Group by 46.4% in the 4th quarter. Bank of New York Mellon Corp now owns 219,960 shares of the insurance provider's stock valued at $18,125,000 after purchasing an additional 69,750 shares during the last quarter. JPMorgan Chase & Co. raised its position in Safety Insurance Group by 21.4% in the 4th quarter. JPMorgan Chase & Co. now owns 212,354 shares of the insurance provider's stock valued at $17,498,000 after purchasing an additional 37,495 shares during the last quarter. Northern Trust Corp raised its position in Safety Insurance Group by 6.9% in the 4th quarter. Northern Trust Corp now owns 166,223 shares of the insurance provider's stock valued at $13,697,000 after purchasing an additional 10,768 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Safety Insurance Group by 0.5% in the 4th quarter. American Century Companies Inc. now owns 67,475 shares of the insurance provider's stock valued at $5,560,000 after purchasing an additional 344 shares during the last quarter. Institutional investors and hedge funds own 81.04% of the company's stock.

Safety Insurance Group Trading Down 1.2%

Shares of SAFT traded down $0.86 during trading hours on Friday, hitting $71.96. 76,576 shares of the stock traded hands, compared to its average volume of 59,256. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.04. Safety Insurance Group, Inc. has a 1-year low of $70.71 and a 1-year high of $90.00. The firm has a market capitalization of $1.07 billion, a PE ratio of 14.72 and a beta of 0.26. The business has a fifty day moving average of $79.30 and a 200-day moving average of $78.50.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The insurance provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.03. Safety Insurance Group had a return on equity of 7.99% and a net margin of 6.29%. The business had revenue of $298.97 million for the quarter.

Safety Insurance Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 5.00%. The ex-dividend date was Monday, June 2nd. Safety Insurance Group's dividend payout ratio (DPR) is presently 73.62%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Safety Insurance Group from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.

Check Out Our Latest Analysis on SAFT

Safety Insurance Group Company Profile

(Free Report)

Safety Insurance Group, Inc provides private passenger and commercial automobile, and homeowner insurance in the United States. The company's private passenger automobile policies offer coverage for bodily injury and property damage to others, no-fault personal injury coverage for the insured/insured's car occupants, and physical damage coverage for an insured's own vehicle for collision or other perils.

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Institutional Ownership by Quarter for Safety Insurance Group (NASDAQ:SAFT)

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